According to the National Bank's monetary policy report, the nominal effective exchange rate index of the som decreased by 1.3% since the beginning of 2023. This decline is attributed to the som depreciating against the euro by 7.7%, the Kazakh tenge by 6.2%, the US dollar by 4.6%, and the Chinese yuan by 2.8%.
Conversely, the som strengthened against the Turkish lira by 48.8%, the Russian ruble by 31.5%, and the Japanese yen by 2.1%. This shift in exchange rates indicates a complex interplay of economic factors influencing Kyrgyzstan's currency performance.
